Sales Contract (Sales_Contract_form_wd2007): Fill in the information that will not change plus your asking price at the top of paragraph 2, and print several copies. Paragraphs 2 and 3 can’t be filled out without a potential buyer who has agreed to your price and is prepared to say how much cash he or she can offer as a down payment and what kind of mortgage loan he or she will try to get.
Seller’s Property Disclosure Statement (Sellers_Disclosure_form_wd2007): Answer a series of questions about the property with “Yes”, “No” and “Don’t know.” Make several copies, and attach a copy to each Sales Contract or Offer to Purchase Agreement. “Don’t know” is a perfectly acceptable answer.
Lead Based Paint Addendum (Lead_Paint_Disclosure_form_wd2007): If the home was built in 1978 or later, indicate that and attach the basically blank form to the Sales Contract. If the home was built prior to 1978, answer the questions and print several copies for attachment to Sales Contracts.
Escrow Agreement (Escrow_Agreement_form_wd2007): The purpose of the Escrow Agreement is to name the person who will hold the Buyer’s deposits, usually for earnest money or a binder. The Escrow Holder can be the Buyer’s real estate agent, the Seller’s lawyer, or anyone the Seller and Buyer agree on. The Escrow Holder can sign as a witness. State designated Escrow Agents or Escrow Officers can often act as the closing attorney, and will hold all deposits.
Offer to Purchase Agreement (Offer_To_Purchase_Agreement_wd2007): This is an alternative to our basic Sales Contract. It is a sales contract usually used by Buyers making an offer to purchase, but often used by Sellers who prefer a more flexible contract, with more options for allocating costs between Buyer and Seller.
Counter Offer (Counter_Offer_wd2007.docx): This is essentially a blank form that provides a medium for either the Seller or Buyer to describe terms they would like made to the currently offered Purchase and Sale Agreement. For simple changes like the purchase price amount the Seller or Buyer can simply draw a line through the offered amount and write an acceptable price directly onto the Purchase and Sale Agreement. The Counter Offer provides a more formal method of making complex changes.
Homeowner’s Association Disclosure (Home_Assoc_Disclosure_wd2007.docx): Most homes built after 1980 are in sub-divisions where owners are required to join Homeowner’s Associations and pay dues to maintain common property. Fill out this form if your Buyer will be required to join a Homeowner’s Association.
Sample Offer to Purchase Agreement (Sample_Purchase_Agreement_1stP_wd2007): This is the filled out first page of a sample Offer to Purchase Agreement. As with the Sales Contract the first page of the Purchase Agreement requires more information from the Seller than the rest of the document. Much of it requires input from a potential Buyer willing to say how much cash he or she will provide for a down payment and the size and type of mortgage loan he or she will seek.
Sample Sales Contract (Sample_Sales_Contract_1stP_wd2007): This is the filled out first page of a sample sales contract. In most cases the first page requires more information from the Seller than the rest of the pages combined. Much of it requires input from a potential Buyer willing to say how much cash he or she will provide for a down payment and the size and type of mortgage loan he or she will seek.
Forms for estimating net cash to Seller, and a Buyer’s ability to afford the asking price.
Net to Seller: This form allows user to enter estimates of all closing costs (balance on current mortgage loan, attorney’s fee, Title search, etc). The user manually subtracts the total estimated cost from the Purchase Price to get the amount of cash the Seller will receive at closing.
Buyer Pre-Qualification: This form records the prospective Buyer’s annual income and expenses and provides manual calculation formula to determine if Buyer can afford the asking price.
Buyer Pre-Qual Sample: Buyer Pre-Qualification form filled out for a Buyer with $48,000 annual income. Based on the sample Buyer’s monthly expenses, the form estimates that Buyer can afford a $144,000 house.
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